Get help from the experts

There are a number of outside professionals with whom a business person will want to establish a relationship.

Accountant

An accountant may be consulted to set up a good bookkeeping system for your business. Inadequate recordkeeping is a principal contributor to the failure of small businesses. Make sure that you understand the bookkeeping system you are using and that you receive and study regularly produced financial reports.

Attorney

An attorney's services are not only essential in the planning stages of your business, but throughout the life of the business. The attorney can assist you in choosing your legal structure, drawing up agreements and contracts, and providing information on your legal rights and obligations. There are also online resources which provide legal information.

Banker

The capital requirements of a small business make it essential that a good working relationship be established with a local banker. Bankers are a good source of financial information and for obtaining financing. It is recommended that you establish a relationship with your banker prior to applying for a loan.

Insurance Agent/Broker

There are many different kinds of insurance options available for business owners. An insurance agent or broker can advise you about the type and amount of coverage that is best for your business. The agent may be able to tailor a package that meets your specific needs at reasonable rates. If you are starting a new business, the insurance agent will need in-depth information about your business in order to help you get the insurance coverage necessary. Insurance for new businesses can be expensive.

Consultants

Each of us has talents in many areas but no one can be a master of everything. Consultants are available to assist in those areas in which you need expert help. There are business, management, and marketing consultants, promotion experts, financial planners, and a host of other specialists who can help make your business more successful.

This document was prepared by the San Joaquin Delta College Small Business Development Center. Send comments to: Gillian Murphy

Acknowledgements, disclaimers, etc.